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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities          
Net loss     $ (44,989) $ (42,220)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation expense $ 300 $ 400 647 674  
Stock-based compensation     6,530 3,897  
Research and development license expense       3,500  
Change in fair value of warrant liability     142    
Non-cash change in fair value of term loan     (268)    
Non-cash lease expense     619 603  
Other     1 387  
Changes in operating assets and liabilities:          
Prepaid expenses and other assets     129 509  
Accounts payable     2,365 2,123  
Accrued expenses and other liabilities     (1,955) (1,324)  
Deferred revenue     (4,523) (7,101)  
Net cash used in operating activities     (41,302) (38,952)  
Cash flows from investing activities          
Purchase of property, plant and equipment     (341) (3,852)  
Net cash used in investing activities     (341) (3,852)  
Cash flows from financing activities          
Debt issuance costs for term loan     (18)    
Proceeds from issuance of common stock and pre-funded warrants from underwritten public offering, net of underwriting discounts and sales commissions and other offering costs     70,481    
Payment of offering costs       (387)  
Proceeds from common stock issuances under ESPP     26 50  
Other     (43) (156)  
Net cash provided by financing activities     70,446 7  
Net increase (decrease) in cash, cash equivalents and restricted cash     28,803 (42,797)  
Cash, cash equivalents and restricted cash at the beginning of the period     146,540 90,517 $ 90,517
Cash, cash equivalents and restricted cash at the end of the period 175,343 47,720 175,343 47,720 146,540
Cash and cash equivalents 172,743 45,083 172,743 45,083 $ 143,940
Restricted cash $ 2,600 $ 2,637 2,600 2,637  
Supplemental disclosure of cash flow information:          
Cash paid for interest     2,655 2,399  
Supplemental disclosure of noncash investing and financing activities:          
Issuance of warrants in connection with private placement       252  
Research and development license not yet paid       3,500  
Offering costs not yet paid     $ 445    
Private Placement          
Cash flows from financing activities          
Proceeds from issuance of common stock from private placement       $ 500